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World Series of Poker's Colossus pulled in 22,374 entries

Tuesday June 02,2015 :  POKER TOURNAMENT THE BIGGEST LIVE EVENT YET?
 
The World Series of Poker's Colossus pulled in 22,374 entries, but there are complaints about the flat prize structure.
 
The World Series of Poker can claim a player registration record for a single live tournament event following the final entry figures for the $565 buy-in Colossus NLHE event over the weekend, which reached 22,374, but the way in which the massive $11,187,000 prize pool will be distributed has caused dissent.
 
A growing number of players, mainly in the professional category, claim that the flat pay structure will pay the winner $638,880 - only 5.7 percent of the prize pool, and that it should be higher.
 
WSOP organisers have countered that by pointing out that the flatter structure gives more players - 2,241 of them - an opportunity to cash a minimum of $1,096.
 
WSOP spokesman Seth Palansky said a lot of thought and experience went into the structure of Colossus, relying on a time-tested and player-approved 100-year-old formula called the Golden Ratio. It had been signed off by "hundreds of poker players" and included input from the Players Advisory Council, he said.
 
"This is the exact structure, we didn't gimmick it up or do anything for marketing or to make numbers look like they were up. We spit it in the computer and this is what the numbers should be according to this long-standing mathematical formula," he told Poker News.
 
Palansky drew attention to the fact that Colossus will pay triple the amount of people that have ever been paid in a WSOP event, and the winner still stands to earn 1,130 times the buy-in for the event, compared with last year's main event, when winner Martin Jacobson received 1,000 times his buy-in.
 
Whingeing aside, Colossus has delivered over two-and-a-half times the previous largest WSOP tournament participation, which was the 2006 Main Event...that pulled in 8,773 players.
 
When we went to press Monday morning just 506 players were still in action after Day 2.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

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Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

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New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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